Grains Gap Lower in the Overnight Session
Corn, soybeans and wheat all moved lower in the overnight session as near ideal conditions during pollination weigh on prices.
This morning all the grains are trading lower as ideal weather during pollination weighs heavily on the market. September corn is trading down 6 cents, September wheat is down 3 ¾ cents and August soybeans is trading 4 ¾ cents lower. This afternoon’s crop progress report should show...[Read More]
Strong New Crop Soybean Sale!
Export sales report was strong for corn and old crop soybeans, but a sale for new crop soybeans may help lift soybeans for the second straight day.
The grains shed a couple pennies in the overnight session with old crop corn down 2 cents, Chicago wheat down 1 cent, and august soybeans down ¾ of a cent. Expectations at the office here are for a continuation of yesterday’s bounce, but we are concerned that the upside potential will be...[Read More]
WASDE Report Reaction
US world ending stocks pressure corn.
Old crop corn carryout was raised 100 million bushels, bringing 2013/14 carryout to 1.246 billion bushels. 2014/15 production was lower 75 million bushels as planted acres and harvested acres were lowered from the June report slightly. Yield was left unchanged at 165.3 bushels per acre. On...[Read More]